TD Securities Forecasts Strong Price Appreciation for TC Energy (TSE:TRP) Stock

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by TD Securities from C$73.00 to C$74.00 in a report issued on Monday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada boosted their target price on TC Energy from C$71.00 to C$74.00 in a research report on Tuesday, February 18th. Jefferies Financial Group increased their price objective on TC Energy from C$65.00 to C$71.00 in a research note on Thursday, January 30th. Veritas upgraded TC Energy from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. US Capital Advisors upgraded shares of TC Energy from a “hold” rating to a “moderate buy” rating in a report on Monday, February 3rd. Finally, Citigroup upgraded shares of TC Energy to a “hold” rating in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$73.33.

TC Energy Stock Down 2.0 %

Shares of TRP stock opened at C$67.07 on Monday. The company’s fifty day simple moving average is C$66.61 and its two-hundred day simple moving average is C$66.56. TC Energy has a 52 week low of C$44.29 and a 52 week high of C$70.97. The stock has a market cap of C$69.16 billion, a P/E ratio of 13.34, a PEG ratio of 1.69 and a beta of 0.82. The company has a quick ratio of 0.40, a current ratio of 1.31 and a debt-to-equity ratio of 237.62.

Insider Transactions at TC Energy

In other news, Director Danika Yeager acquired 1,817 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of C$69.23 per share, for a total transaction of C$125,784.97. Also, Director Francois Lionel Poirier bought 4,800 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of C$65.05 per share, for a total transaction of C$312,239.52. Over the last three months, insiders bought 13,287 shares of company stock worth $842,568 and sold 145,977 shares worth $9,810,511. Company insiders own 0.03% of the company’s stock.

TC Energy Company Profile

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.